Deletion of Article 4 from the Implementing Regulations of the Real Estate Finance Law, and amendment of Article 16 of the Implementing Regulations for Finance Companies Control Law
| No: 43072290 | Date(g): 24/3/2022 | Date(h): 21/8/1443 |
Translated Document
Based on the powers vested to His Excellency the Minister of Finance under the Real Estate Finance Law issued by Royal Decree No. (M/50) dated 13/8/1433 H, and the powers vested to His Excellency the Governor of SAMA under the Finance Companies Control Law issued by Royal Decree No. (M/51) dated 13/8/1433 H.
We inform you of the issuance of His Excellency the Minister of Finance's Decision No. (1144) dated 2/6/1443H, which includes the deletion of Article (4) from the Implementing Regulations of the Real Estate Finance Law.
We also inform you of the issuance of His Excellency the Governor's Decision No. 113/M Sh T dated 10/8/1443 H, which amends Article (16) of the Implementing Regulations of the Finance Companies Control Law to read as follows: " SAMA will determine in the License the Finance Activity or Activities for which it is granted. SAMA may restrict the License to certain geographic area or specific types of Borrowers or impose other conditions."